If you're on the lookout for blue chip ASX shares that you can buy and hold then I would suggest you check out the ones listed below.
I believe these quality companies have the potential to grow very strongly over the next decade. This could lead to their shares generating market-beating returns for investors during the 2020s.
Here's why I rate them highly:
REA Group Limited (ASX: REA)
The first ASX blue chip share that I think would be a great buy and hold option is property listings company REA Group. The last few years have not been easy for the company. It has had to contend with a mini housing market crash and then of course the pandemic. But despite this, REA Group has managed to come out on top and deliver solid profit growth. I believe this demonstrates the strength of its business model.
The good news is that house prices are being tipped to rise next year once the pandemic passes. This is likely to lead to higher listing volumes and could result in an acceleration in its profit growth in the near future. Especially given its new revenue streams, costing cutting, and potential price increases.
SEEK Limited (ASX: SEK)
Another top blue chip ASX share to buy and hold is SEEK. It is the owner and operator of online employment sites in Australia and a number of international markets. I'm a big fan of the company due to its dominant position in the ANZ market and its rapidly growing Zhaopin business in China.
It is the latter that I'm most excited about. With Zhaopin quickly becoming one of the leaders in the massive China market, SEEK looks well-positioned for growth over the long term. Management certainly agrees. It is is aiming to grow SEEK's revenue to $5 billion later this decade. This will be more than triple the $1,577.4 million it recorded in FY 2020.
